TORONTO: Canada’s main stock index rose on Tuesday, extending gains from the previous session, as miners found support in firmer gold and copper prices.
At 9:43 a.m. ET (14:43 GMT), the Toronto Stock Exchange’s S&P/TSX composite index was up 60.37 points, or 0.29%, at 21,158.66, a day after recording its highest closing level since Jan. 19.
The materials sector, which includes precious and base metals miners and fertilizer companies, added 1.5% as gold prices firmed above the key $1,800-level and copper prices rose.
“We had a rebound in the US yesterday, and Canadian markets followed it. Markets are just digesting those gains this morning,” said Colin Cieszynski, chief market strategist at SIA Wealth Management.
Capping further gains was the energy sector, which dropped 0.1%, as oil slipped on speculations of a faster supply boost from OPEC+ and expectations of a rise in US inventories. Toronto-listed technology stocks jumped 0.3%, tracking gains in the US tech-heavy Nasdaq index.
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